SOFIS is a marketplace platform for
business loan and personal loan that brings together borrowers and lenders with
easy and fast processing, low and fixed interest rates, and can provide
balanced returns between borrowers and sponsors who are willing to provide
funding as investment diversification.
What
is the difference between borrowing conventional lending and P2P Lending?
You may still be unsure of the
individual lending system by way of P2P Lending, especially now that many other
traditional financial institutions that provide claim to provide ease in the
process of borrowing funds for both personal needs and for business
development. Before deciding to apply for a loan to a traditional financial
institution, it’s good to understand what differentiates between traditional
financial institutions and the ever-expanding P2P Lending platform like SOFIS:
Source
of funds
Cash loans to traditional financial
institutions such as banks for example, funds obtained from customers’ savings
funds are then played on loan to borrowers coupled with interest. So the bank
has a responsibility to return the customer money played, so there is a risk of
sanctions for borrowers who are late paying even the risk of losing the
guaranteed assets. Funds disbursed through SOFIS come from lenders or investors
who directly give their funds to the borrower. SOFIS does not require borrowers
to provide guarantees and sanctions for very low payment delays.
Loan
application submission
Applying for a bank loan requires
you to submit your business plan forward, and a survey to the place of
business, and also rely on the bank to determine whether you are eligible to
take credit or not. Applying for loan investments through https://sofis.id , you only need to follow the
submission flow that we have determined with the process that is not long, all
done online, then just waiting for sponsors interested to fund your efforts.
Interest and fees
The amount of interest set for the
payment of your cash loan is determined by the bank adjusted for the credit
tenor term. Through peer to peer lending platform, interests are based on
the risk factors of the borrowers. Borrowers with history of borrowing through
SOFIS and has successfully paid the loan, will have a chance to get lower
interest. Fees will also lower as the interest gets lowered.
Thus,
it can be concluded that the method of channeling loans through P2P Lending as
done by SOFIS is a form of government program support, especially in this case
Bank Indonesia and OJK in increasing the involvement of the community to
utilize the services of financial institutions including to apply for loans.
The government’s financial clarification program is still experiencing
difficulties due to the limited access to financial services in Indonesian
society. With the advent of fintech companies like SOFIS, of course, can be a
bridge between the owner of the fund with you who need funds by utilizing
financial technology is increasingly entered in almost all levels of society,
especially for the middle class.
This article is originally published at https://sofis.id/blog
